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Report to Agency Board regarding Nickelodeon Amendment No. 2 <br />September 3, 2002 <br />Page 2 of 2 <br />The Redevelopment Executive Advisory Committee (REAC) met on August 19, 2002 to <br />discuss Nickelodeon's request for an extension, at which time Nickelodeon presented a status <br />report. The REAC recommended approval to the full Agency Board of Amendment No. 2, <br />which extends the term of Nickelodeon's agreement to January 31, 2003. Agency Resolution <br />No. 806 is attached hereto at Attachment "A" and extends the term to January 31, 2003. <br />Environmental Impact <br />None: The proposed expansion has been reviewed and approved by the City Planning <br />Department. As a minor addition to an existing building, the project is categorically exempt <br />from CEQA. <br />Financial Impact <br />Funds were budgeted in the Agency's 2002/03 budget for the completion of the project. <br />Recommendation <br />Adopt Agency Resolution No. 806 approving and authorizing the Executive Director to <br />execute Amendment No. 2 to the 2000 Community Redevelopment Relocation, Settlement <br />and Release Agreement. <br />Attachments <br />Attachment A - Agency Resolution No. 806 <br />Attachment B - Relocation, Settlement and Release Agreement, dated March 21, 2000 <br />Attachment C - Amendment No. 1 to the Agreement, dated February 5, 2002 <br />Attachment D - Nickelodeon's Written Status Report and Request for an Amendment, dated <br />August 14, 2002 <br />R:\ShareRDA\Meetings\2002 Meetings\RDA City Council\September 3, 2002\Nickelodeon Amendment No. 2.doc <br />